You want to start a business. You have to know how to find niche market. There are so many niches in the market, which one to choose?
It will be easier to start with your interest and passion. By doing this you’ll be able to share your own experiences with your audience.
What Is A Niche?
A niche is a group of people looking for specific information or products. This group of people is your target audience. They are looking for solutions to their problems and you’re going to help them find the solutions.
How To Choose A Niche for Affiliate Marketing
One of the most important decisions in affiliate marketing is to choose a niche market. It is good to choose a niche that you are knowledgeable or passionate about. Besides knowledge and passionate, your niche must have a large enough audience. You do not want to choose a niche that is too narrow or too broad. if your niche is too narrow, you will not have enough audience. On the other hand, if your niche is too broad, you will face the competition. This is a business, you also want to choose a niche that you can solve your target customers’ problem and it is profitable at the same time.
Let us look at this example:
Help for hair loss in women. There are many women having hair loss problem and they are looking for information and solutions online. This is a targeted niche. You aim to help this group of people by providing them with information and products that will solve their hair loss problem.
These are the 8 steps you can use to find your niche.
1. Identify Your Interest and Passions
Start making a list of 10 interest and passions areas, and narrow down to the final one.
2. Identify how you can help or solve problems in this niche.
Identify a niche that has many problems and many people are looking for solutions. You do your research to provide them with information and recommend products that solve their problem. People are happy to spend money to make their life easier.
There are a few steps you can use to identify problems in a niche
- Check on Quora and other forum site related to your niche. Identify the types of questions asked by people and identify what problem do they have.
- Check on Google and Jaaxy Keyword Research Tool to find out what keywords are used in their search term for questions.
3. Research Your Competition
You want to choose a niche that has a lot of competitors. When there are many people interested in a particular niche, there is lots of money to be made and there is lots of competition as well. To compete with your competitions, you have to produce high-quality, detailed contents that help your audience solve their problems.
If there is no competition for a particular niche, it doesn’t mean that no one thought of it, It might be there is not profit for that niche.
Think of your niche as a pie. It is always easier to get a piece from a big pie.
Can you profit from this niche market? this is the question you want to ask yourself. You must treat your online business like any other business. You provide your audience with solutions to solve their problem. In exchange for that, you earn your commission.
5. Listen to Other People
Sometimes we can hear from our friends, family, co-workers, and others talk about their interest and hobby. This can be a niche market to explore.
6. Latest Magazine
Look into the latest magazines, see what is popular. If an item is popular, the advertisers will spend money to promote it.
7. TV Commercials
TV commercials always sell trendy products. This will give you ideas on the popular and newest items in the market.
8. Amazon.com and Ebay.com
Go to Amazon.com and Ebay.com to see what is ‘HOT’ over there. This will give you more ideas on what products to sell.
Big Pond, Little Fish versus Little Pond, Big Fish
Big Pond, Little Fish – Some marketers like to be in this market where they can profit from just a small piece of a big pie.
Little Pond, Big Fish – In this segment, the niche is more specific, there are not many competitions and you can become an expert in this segment.
Which market place do you want to be? There is no right or wrong answer to this. You make a choice.
Once you have chosen the niche market you would like to explore, you can look further to see if there is any untapped opportunity within the niche. You can research further into sub-niches.
Focus on one specific niche to work on, and become the go-to person for that niche. it is not advisable to be ‘Jack of all trades and master of none’
If your first niche does not work well, find a new niche. Learn from your previous experience to identify what is working and what is not. I am sure you will find a few niches that you can work on.
Once you know how to find niche market and have decided on your niche, you have to create a website.
No worry if you have no experience in creating a website. You’ll learn how to create a website for free with no experience.
To learn more about affiliate marketing, I would recommend the free training that helped me started with my online business.
Thank you for stopping by. I hope you find the above information helpful and if you have any questions or comments, please do not hesitate to leave them below.
I would love to hear from you. 🙂